Master in Actuarial Science

Insurance and reinsurance companies, banks and financial institutions, social security and pension, consultancy and supervision.

There are many opportunities for actuaries on the labor market. Still today, the demand is considerably greater than the supply.

Insurance companies and reinsurance companies are, of course, the first employers.

But the actuary is also employed in banking and financial institutions, social security organisms, pension institutions, consultancy firms or supervising organizations. The high level of training generally leads, after some years, to positions with responsibility and leadership.

The actuary is an expert in risk management. She analyzes all kinds of risks affecting private individuals and businesses. Based on this analysis, she implements solutions to limit the financial consequences (insurance packages, social security schemes, ...).

Mathematics is the key to the profession. The actuary combines scientific rigor in the definition and quantification of risks with a profound knowledge of financial and insurance markets. Good analytical skills and creativity are also necessary for working in this profession. This training in Actuarial Science allows students to develop all of these skills. It requires a solid foundation in mathematics, especially in probability and statistics, as well as a good knowledge of economics, law and management.

The first part bloc of the Master aims to introduce students to the general issues of insurance and stochastic modeling of risks in insurance and finance. Students can also be obliged to follow some upgrade courses, so-called "Cours de mise-à-niveau", determined by the profile and previous training of the student. These courses will be fixed by the President of the Jury in the beginning of the academic year. These upgrade courses are intended to complement the knowledge of probability theory, statistics, computer science, mathematical optimization, accounting, law, management and economics.

During the second bloc of the Master, students complete their general education and follow specialized courses in life and non-life insurance, in ALM for insurance companies, in reinsurance, in financing methods for pension systems... The student also achieves a master thesis and can perform an internship (optional) for a first contact with the profession.

Life insurance, non-life insurance, group insurance and pension funds, reinsurance, accounting and fiscality of insurers, risk management in insurance, financial theory, stochastic finance (55%)

Probability, stochastic processes, statistics, econometrics, computer science (25%)

Master thesis (20%)

The Master issued by the ULB is one of only two courses in actuarial science in the Fédération Wallonie-Bruxelles.

Successful graduates are officially entitled to join the Institute of Actuaries in Belgium (IA'BE), which confers international recognition for their qualification.

The training program has been designed in order to create a balance between theoretical knowledge and practical method from the field.

The program focuses on both the theoretical knowledge of insurance and finance and on methodologies of the field.

For students wishing to complete their training with an internship, the location of the ULB is ideal in Brussels where most financial institutions and insurance companies are located as Brussels hosts most of the financial institutions and insurance companies.

The « Prix P&V » rewards the best master thesis in actuarial sciences.